23 Nov The hardest part about helping people buy and sell businesses

The hardest part about helping people buy and sell businesses is watching or hearing about business buyers and sellers that made mistakes that cost them substantial amounts of time, money and, often, credibility. As I’ve said, M&A deals are complex, time consuming and risky, and unfortunately there’s a concept that exists, for whatever reason, that great deals are completed by happenstance. Luck. It’s, ‘run your business and play some golf and answer your phone and some day a motivated buyer with more money than sense will come along and cut you a fat check.’ Yes, some people win the lottery but it’s just 1 in 254,000,0000. Not attractive odds. Business sellers would be far better served by NOT answering their phone when the bottom-feeding and scam buyers call. Instead, take heed of time tested wisdom — nothing good comes without proper preparation and hard work